MGM China has had an excellent year thus far, with the company recently reporting its best-ever quarterly results amid Macau’s tourism and gaming sectors continuing their strong rebound.
8.4% Net Revenue Increase
In the April–June period, the company that kicked off the year with salary rises for 99% of its employees reached HK$8.7 billion (US$1.1 billion) in net revenue, an 8.4% jump from the previous quarter.
The adjusted EBITDA of HK$2.5 billion (US$318 million) also signalled a 6.1% increase from one quarter to another.
That number now stands 172% above pre-pandemic levels in 2019, showing just how far the operator has come in the last few years.
12% Rise in Visitors
In terms of visitors, MGM China properties recorded a 12% increase year-over-year, currently reaching 175% of 2019’s levels.
Macau’s wider recovery also played a pivotal role, with a daily number of visitor arrivals to the region reaching 102,812 in the second quarter, a 19% rise compared to 2024 and 94% of the pre-pandemic figures.
Daily gross gaming revenue went up to MOP111.2 million (US$13.7 million), signaling a 12% annual increase and topping Q1’s average of MOP100.4 million (US$12.4 million).
The city’s daily gross gaming revenue also ticked up 8% year-on-year to MOP671.6 million (US$83 million).
MGM China saw its market share in Macau inch up to 16.6%, with MGM Cotai holding 10.5% and MGM Macau 6.2%. Occupancy remained high at 94.5%, and the group ended the quarter with HK$22.5 billion (US$2.86 billion) in available liquidity, giving it a solid financial cushion.
Drawing in Luxury Clientele
The company keeps preparing fresh offerings for its premium clientele, with emphasis on the recently completed 28 Alpha Villas at MGM Macau whihc are now fully operational and well-received by high-end guests.
MGM Cotai, meanwhile, has begun converting rooms into 60 new suites aimed at luxury travelers.
President and executive director Kenneth Feng credited the company’s momentum to its ability to anticipate and adapt to customer trends.
“We are delighted to see another quarter of growth driven by our deep understanding of customers and our ability to refresh our products and offerings to cater to customers’ taste.”, he commented.
Besides the luxury developments, MGM also chose to embrace the region’s diversification goals. Highlights included big culinary events like the MGM x RR1HK Culinary Masters Macau and sporting events like the Artistic Swimming Elite Extravaganza.
Zhang Yimou’s residency show Macau 2049 also hit a significant milestone, celebrating its 100th performance and drawing 30% of its audience from overseas visitors.
Feng took the opportunity to also reiterate their commitment “to bringing more unique and quality experiences” to their visitors while making sure their offerings match the ones that the Macau Government envisions for turning the city into a full destination for global tourists.